Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Acquired by Royce & Associates LP

Royce & Associates LP raised its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 70.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,250 shares of the biopharmaceutical company's stock after purchasing an additional 10,000 shares during the quarter. Royce & Associates LP's holdings in Cytokinetics were worth $1,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CYTK. J.Safra Asset Management Corp grew its stake in shares of Cytokinetics by 642.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 456 shares during the period. UMB Bank n.a. raised its position in Cytokinetics by 65.6% during the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company's stock worth $32,000 after buying an additional 238 shares during the last quarter. Blue Trust Inc. raised its holdings in Cytokinetics by 225.9% in the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 680 shares during the period. Values First Advisors Inc. acquired a new stake in shares of Cytokinetics in the third quarter valued at about $54,000. Finally, EntryPoint Capital LLC acquired a new position in Cytokinetics in the first quarter valued at about $74,000.

Analysts Set New Price Targets

CYTK has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on Cytokinetics from $65.00 to $71.00 and gave the stock an "overweight" rating in a research report on Thursday, September 5th. JMP Securities reissued a "market outperform" rating and issued a $78.00 target price on shares of Cytokinetics in a report on Wednesday, September 4th. Royal Bank of Canada initiated coverage on shares of Cytokinetics in a research report on Friday, November 8th. They set an "outperform" rating and a $80.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price target on shares of Cytokinetics in a research report on Wednesday. Finally, HC Wainwright reiterated a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $83.67.

Insider Activity

In related news, EVP Fady Ibraham Malik sold 7,384 shares of Cytokinetics stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $57.01, for a total value of $420,961.84. Following the sale, the executive vice president now owns 122,920 shares of the company's stock, valued at approximately $7,007,669.20. This trade represents a 5.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.03, for a total transaction of $285,150.00. Following the sale, the chief executive officer now owns 397,456 shares of the company's stock, valued at $22,666,915.68. This represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,078 shares of company stock worth $3,514,119 over the last ninety days. Corporate insiders own 3.40% of the company's stock.

Cytokinetics Price Performance

Cytokinetics stock traded down $0.76 during mid-day trading on Wednesday, hitting $50.33. 150,540 shares of the company traded hands, compared to its average volume of 2,050,726. The stock has a fifty day moving average price of $53.94 and a 200-day moving average price of $55.01. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of -9.50 and a beta of 0.78. Cytokinetics, Incorporated has a one year low of $30.68 and a one year high of $110.25. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The business had revenue of $0.46 million during the quarter, compared to analyst estimates of $1.21 million. The business's revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the prior year, the business posted ($1.35) EPS. On average, equities analysts predict that Cytokinetics, Incorporated will post -4.32 earnings per share for the current fiscal year.

Cytokinetics Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.